Ghana’s Akufo-Addo predicts recovery in 2021 and stresses need to diversify economy
International Monetary Fund has warned of possible debt distress
09 March 2021 - 21:18
Accra — Ghana's President Nana Akufo-Addo on Tuesday predicted a sharp economic rebound in 2021 after a pandemic-induced downturn thanks to new mining projects, increased manufacturing and expanded financial services.
Ghana, West Africa's second-largest economy and a major producer of gold, oil and cocoa, saw economic growth slide to an estimated 1.9% in 2020, the lowest in decades. The country's debt-to-GDP ratio rose past 70% and prompted the International Monetary Fund to warn about possible debt distress...
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